MSU Company manufactures a high-quality steel pipe that goes through two processing stages prior to completion.

Information on work in the first department, Molding, is given below for December:

Q1> What is the units Work in process, December 31? (Physical units)

Ans)

Compute equivalent units of production for materials and conversion costs

Ans)

Material: ( ) Conversion: ( )

Compute the unit costs of production (cost per equivalent unit) for material and conversion costs

Material: $ . Conversion: $ .

Assign costs to units completed and transferred out and work in process at the end of December.

• Total cost of units completed/transferred out: $ .

• Total cost of Work in process, December 31: $ .

Information on work in the first department, Molding, is given below for December: Production Data: Units Work in Process, December 1 (Beginning): 40 Units started into production in December 580 Units completed and transferred out to the next department 460 Units Work in Process, December 31: Materials 100% complete, ? Conversion 40% complete Cost of beginning work in process, plus costs incurred during the period: Direct materials $5,580 Conversion costs $2,358